Lebanon, Tenn.-based Cracker Barrel (Nasdaq: CBRL), which has 627 locations in 42 states, reported fiscal third-quarter earnings of $28.7 million, or $1.20 a share, up from $24.6 million, or $1.02 a share, a year ago. Earnings per share adjusted for one-time items came to $1.23 a share, a penny above the consensus estimate by FactSet analysts.

Revenue rose 0.5 percent to $643.3 million from $640.4 million, but sales at restaurants open at least a year fell 0.6 percent. The company said a 2.9 percent decline in customer traffic was partially offset by a 2.3 percent increase in the average check, which measures how much customers spend. The average menu price also rose 1.8 percent.

Cracker Barrel, which also operates gift shops inside its restaurants, said comparable retail sales rose 0.9 percent for the quarter.

"Like many in our industry, Cracker Barrel continued to face headwinds during the quarter from severe winter weather, a challenging consumer environment and an increasingly promotional competitive landscape," Cochran said in a statement. “Nevertheless, we continued to outperform our peers in the Knapp-Track casual dining index for the 10th consecutive quarter, while our field teams focused on controlling costs and preserving our operating margins.”

Cochran, who has been Cracker Barrel’s CEO since 2011, last month unveiled a three-year cost-cutting plan amid tougher conditions in the restaurant sector. The company, which has many locations along highways, cited increased competition and an overall drop in vehicle travel due to bad weather and shortened vacations.